Mortgage Rates Update 10/15/13

Primary Mortgage Rates saw modest increases today, bringing them to their highest levels since late September. The lack of a compromise in D.C. over the government shutdown has kept vital employment figures from being released which have had the major markets across the board seeing red figures. Without that critical information it is unlikely the market’s confidence will improve.

The average 30-year rate rose from 4.35% to the 4.39% range. The average 15-year rate rose at about the same rate to settle around 3.52% range, up from yesterday’s closing at 3.47%. The average 5/1 year ARM rate remained at the 3.14% range.